Investor Presentaiton

Financing Recap - 2023 Equity Issuance Raised ~$1.7 Billion Proceeds from Common Stock Issuance Closing Date Securities Issued Size Public Offering Price File-to-Offer Discount Use of Proceeds March 3, 2023 Common Stock Total Debt to Total Capital 12,650,000 Shares $135.50/Share 3.5% Repaid outstanding commercial paper obligations and for general corporate purposes March 31, 2023 54% Executed our Plan to Issue in 2023 a Significant Portion of Expected $2B of Equity Need in Five-Year Plan (2023-2027) AMERICAN WATER Long-Term Target <60% 23 Case No. 2022-00432 Bluegrass Water's Response to PSC 3-25 Exhibit PSC 3-25(b) - Part 1 of 2 Page 23 of 39

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